FRASER VALLEY

Home sales rise to new annual level; new listings also spurt up; excellent supply  

Fraser Valley home sales continued their Spring burst in April, increasing 11% over March, and for the first time in a year surpassing their annual comparison with a rise of 7.0% over same month in 2025. New listings also spurted, rising 6.0% from March, with 3,549 homes added to the Valley’s inventory. At the end of March, there were 9,916 available homes across all property types, an increase of 7.0% from March and 45% over the 10-year seasonal average. However, even with its elevated activity, the Valley market is still in buyer’s territory, allowing room for some price negotiation in a generally more relaxed purchasing environment. With its abundant supply, the Valley’s home prices are stable at time when affordability is a dominant concern. With the Bank of Canada’s holding its policy rate at the end of April to 2.25%, variable mortgage borrowers still have access to relatively low interest costs, although another wave of inflation threatens from rising energy prices and geopolitical instability. The central bank has warned that it may need to raise its key lending rate later this year as it monitors the inflation horizon, which would also see a rise in variable mortgage interest rates. At present, Ratehub.ca has posted the best 5-year variable mortgage rate at 3.35%, and the best 5-year fixed mortgage rate at 4.14%. Fixed rates may rise earlier since they are driven by bond yields, which rise on investors’ anticipation of inflation. Home prices in each property type across the Fraser Valley saw modest price fluctuations in all regions last month, with the biggest increase being 3.0% for condominiums in White Rock/Surrey and biggest decline being 2.4% for a detached home in North Surrey. At the end of April, the combined benchmark price for residential property in the Fraser Valley was $899,200, a 0.1% increase from the preceding month.    

Please review in the section below my monthly selection of benchmark prices for each property type in different areas of the Fraser Valley. You can use these benchmarks as guide to your home shopping. Each overall benchmark has the three closest average prices on each side of the benchmark price. These prices are the averages for comparable homes located in different neighbourhoods. The monthly price change as shown typically reflects the relative local market activity for the month.  The range of prices is provided to gauge the number of listings that make up the average. But remember, benchmarks prices are averages. If you are interested in exploring actual home prices in a particular neighbourhood, please call me. I can provide the most up-to-date information on listed properties. And if you are thinking of selling you home, I can prepare a Customized Market Analysis for your property and advise you on the optimal listing price in the current market. During the month of April, the average length of time to sell a single-family detached home was 37 days; townhouses on average 32 days; and condominiums on average 42 days.

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of April was $1,374,800, a decrease of 0.1% from the preceding month. The range of the average extended from $1,740,600 in South Surrey/White Rock to $929,5000 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,382,000, a decrease of 0.7% from the preceding month; Langley at $1,526,200, a decrease of 0.9% from the preceding month; and South Surrey/White Rock at $1,740,600, an increase of 1.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $1,373,800, an increase of 0.2% from the preceding month; North Surrey at $1,311,600, a decrease of 2.4% from the preceding month; and North Delta at $1,239,800, a decrease of 1.0% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of April was $771,600, a decrease of 0.1% from the preceding month. The range of this average extended from $878,200 in South Surrey/White Rock to $610,900 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $773,100, a decrease of 0.7% from the preceding month; Langley at $812,000, an increase of 0.1% from the preceding month; and South Surrey/White Rock at $878,200, a decrease of 1.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $768,3000, a decrease of 0.6% from the preceding month; North Surrey at $703,600, an increase of 2.6% from the preceding month; and Mission at $637,700, a decrease of 1.9% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of April was $491,000, an increase of 0.4% from the preceding month. The range of the average was from $588,200 in South Surrey/White Rock to $400,400 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $495,900, an increase of 0.5% from the preceding month; North Delta at $512,700, an increase of 1.3% from the preceding month; and Cloverdale at $538,700, a decrease of 1.9% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Mission at $430,700100, an increase of 0.9% from the preceding month; North Surrey at $423,100, a decrease of 0.9% from the preceding month; and Abbottsford at $400,400, an increase of 0.9% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.